NO: DELENG / 2017 / 70663
official media partner of national maritime foundation
The Panama Canal is encountering challenges as ship crossings decline
By Sea and Coast | 05/08/2023
Ships navigate through the canal by utilizing a series of locks that rely on water sourced from multiple freshwater reservoirs for lifting the immense cargo vessels across the land. However, due to an unparalleled regional drought, the canal's administrator has been compelled to implement additional charges and weight restrictions on ships utilizing the transoceanic waterway.
Under normal circumstances, the canal accommodates approximately 36 to 38 ships on a daily basis. However, the canal authority anticipates a decrease in this number to around 30 to 32 ships as they continue to implement measures aimed at conserving water resources.
Consequently, the canal authority expects a decline in revenue of approximately €182 million for the upcoming fiscal year, commencing in October.
Furthermore, concerns persist that the situation may exacerbate further. With the prolonged dry season in the region, authorities fear the onset of the El Niño weather phenomenon might exacerbate the already challenging conditions